Inflation target appropriate: Hungary's Simor

Andras Simor, the governor of the National Bank of Hungary, has defended the central bank's 3% inflation target in the face of political opposition.

Simor told Hungarian lawmakers on Tuesday that were was no point in changing the target and that a move to do so "could cause far more problems with an undisciplined monetary policy."

He also warned that their criticism of monetary policy would damage the country's economic credibility. "I do not have a problem with political criticism but markets

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